BMRN | Morning News

JUNE 18. 2015stock market news

US futures edge up at this 7AM hour as traders digest yesterday’s FOMC announcements and Yellen’s speech. Meanwhile overnight, European markets struggled on Greek monetary concerns and Shanghai shares plunged 3.7% leading most of Asia lower.

NEWS:

  • CTRP: announces $1B convertible debt offering
  • REI: announces public offering of unspecific size
  • KMI: CEO and ex-CEO files that they bought $8.5M in stock since June 5
  • GOOG: MSFT: Google, Microsoft, Mozilla And Others Team Up To Launch WebAssembly, A New Binary Format For The Web, reports Tech Crunch
  • OIS: lowers guidance for Q2

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Consumer Price Index
  • 8:30AM: Current Account
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Philly Fed Business Outlook
  • 10AM: Leading Indicators
  • 10:30AM: EIA Natural Gas Inventory
  • 4:30PM: Money Supply and Fed Balance Sheet

EARNINGS:

  • RAD: Q1 EPS of $0.00 misses by $0.03.Revenue of $6.65B in-line: guidance, lowers FY16 EPS view to 14c-22c from 19c-27c

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT:

  • ORCL:FQ4 EPS of $0.78 misses by $0.09.Revenue of $10.71B misses by $240M: sales negatively impacted by 17% license revenue drop
  • JBL: FQ3 EPS of $0.49 in-line.Revenue of $4.36B misses by $100M: soft guidance
  • PIR: FQ1 EPS of $0.08 in-line.Revenue of $432M (+3.1% Y/Y) misses by $2.53M: upbeat guidance

NOTABLE EARNINGS AFTER THE CLOSE:

  • FNSR, RHT, SWHC

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • MRVL: upgrade: sell to neutral: Goldman: $24
  • CL: upgrade: sell to hold: Canaccord: $65
  • JNPR: upgrade: neutral to outperform: Wedbush:
  • AMC: upgrade: neutral to buy: B Riley: $35
  • HOG: upgrade: neutral to buy: UBS: pt raised from $60 to $63
  • ALK: upgrade: neutral to outperform: Credit Suisse: pt raised from $75 to $78

DOWNGRADES:

  • LUV: downgrade: overweight to underweight: Sterne Agee: pt cut from $50 to $39
  • SAVE: downgrade: outperform to neutral: Credit Suisse

INITIATIONS:

  • JUNO: initiated: buy: Maxim: $78
  • H: initiated: buy: Brean Capital: $68
  • ATHN: initiated: outperform: Oppenheimer: $168
  • AMT: initiated: buy: BTIG Research: $127
  • BBT: initiated: overweight: Stephens: $45
  • FITB: initiated: overweight: Stephens: $24
  • CERN: initiated: outperform: Oppenheimer: $89

PRICE TARGET CHANGES:

  • BMRN: pt raised from $123 to $147: Piper
  • BMRN: pt raised from $150 to $156: Barclays
  • BMRN: pt raised from $125 to $145: RBC Capital
  • BMRN: pt raised from $140 to $151: JP Morgan
  • HAWK: pt raised from $44 to $50: Deutsche Bank
  • PANW: pt raised from $180 to $200: RBC Capital
  • ORCL: pt raised from $44 to $48: FBR Capital
  • ORCL: pt cut from $50 to $48: RBC Capital

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